Yangzijiang Financial to set up S$200M Asia fund and will manage S$500M for a family office

Stock market charts during a live trading session. Photo by Nicholas Cappello on UnsplashStock market charts during a live trading session. Photo by Nicholas Cappello on Unsplash

Yangzijiang Financial Holding (YZJFH), via its wholly owned subsidiary GEM Asset Management, has entered a deal to provide investment advisory services to a family office, with S$500 million in assets under management (AUM), the company said in a filing to SGX Wednesday.

In addition, GEM, which is a Singapore-based fund management company, will be setting up and managing a new fund with an AUM of up to S$200 million, the filing said.

YZJFH will contribute S$60 million to the fund, called GEM Asia Growth Fund, and the company is in talks with external parties to raise the remaining S$140 million, the filing said.

The fund will focus on growth opportunities in Asia’s middle-market businesses, with plans to invest mainly in companies at the growth or mezzanine stage and in need of a capital infusion, the filing said.

Vincent Toe, CEO and chief investment officer of YZJFH, said the company was in talks to with potential partners and with funds to manage third-party funds.

“There continues to be strong demand for the set-up of new family offices and funds as well as progress in wealth management in Singapore and I believe that we will be able to consistently grow our AUM,” Toe said in the statement.

Before its listing on SGX, YZJFH said its key investment themes would be late-stage companies, including pre-initial public offering (IPO) companies, ESG, New Economy, real estate and opportunistic investments, including as IPO anchor investors and special situations.